ROAD to Housing
The Renewing Opportunity in the American Dream (ROAD) to Housing Act includes provisions that touch on everything from financial literacy to affordable housing construction.
One key component of the legislation is its effort to boost housing supply, which many experts say is crucial to making homes more affordable. This includes supporting the construction of more manufactured homes, expanding small-dollar mortgage lending, and encouraging private investment in public housing through the Rental Assistance Demonstration (RAD) program.
The bill also includes various measures aimed at addressing different segments of the housing market, such as improving housing counselling and financial literacy, promoting self-sufficiency among low-income families, and prioritizing housing development in Opportunity Zones.
The Mortgage Bankers Association (MBA) has thrown its support behind the ROAD to Housing Act, praising the bill for its broad approach to tackling housing challenges and increasing homeownership opportunities across the country.
“Housing supply and affordability is a national problem that demands the focused attention of Congress and federal housing agencies,” MBA President and CEO Bob Broeksmit said in a statement. “We are encouraged that housing is a major policy discussion this election cycle, including the airing of many proposals that require congressional action.”